05:00 PM EDT, 08/25/2025 (MT Newswires) -- US equities declined Monday as Wall Street geared up for Nvidia's ( NVDA ) results later in the week.

The Dow Jones Industrial Average shed 0.8% to 45,282.5 after closing at an all-time high Friday. The S&P 500 lost 0.4% to 6,439.3, while the Nasdaq Composite dropped 0.2% to 21,449.3. Barring energy and communication services, all sectors ended in the red, led by consumer staples.

Tech bellwether Nvidia's ( NVDA ) is scheduled to report its fiscal second-quarter results Wednesday.

Tigress Financial Intelligence said Monday it expects the company to report record results amid robust demand for data center processors and its Blackwell generative artificial intelligence system.

Nvidia's ( NVDA ) shares were up 1%, the top gainer on the Dow.

"The Street continues to underestimate the demand curve for the AI revolution being led by Nvidia ( NVDA ) and this week will be another flex the muscles moment for (Chief Executive Jensen Huang) and Nvidia ( NVDA ) as well as the AI revolution bull thesis," Wedbush Securities said in a note e-mailed to MT Newswires.

CrowdStrike ( CRWD ) , Snowflake (SNOW), HP (HPQ), Dell Technologies ( DELL ) , Marvell Technology ( MRVL ) , and Alibaba Group ( BABA ) are also scheduled to report results later this week.

Keurig Dr Pepper ( KDP ) agreed to acquire Dutch coffee maker JDE Peet's in an all-cash deal worth about 15.7 billion euros ($18.29 billion), with the US beverage company planning to separate into two independent entities after the transaction closes. Keurig Dr Pepper ( KDP ) shares tumbled nearly 12%, the steepest decline on the S&P 500.

Crescent Energy ( CRGY ) agreed to buy Vital Energy ( VTLE ) in an all-stock deal worth about $3.1 billion, including debt, to create one of the top independent oil and gas producers in the US. Crescent shares fell 4%, while Vital Energy ( VTLE ) jumped nearly 15%.

US Treasury yields were higher, with the two-year rate rising 2.7 points to 3.74% and 10-year rate increasing 1.9 basis points to 4.28%.

The personal income and outlays data for July are scheduled to be released Friday. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.

On Friday, Fed Chair Jerome Powell hinted at a potential shift in monetary policy toward lower interest rates. Downside risks to employment were rising, while the effects of tariffs on inflation were likely to be short lived, Powell said in prepared remarks for delivery at the Kansas City Fed's annual Economic Policy Symposium in Jackson Hole, Wyoming.

Markets are pricing in an 84% probability that the central bank will cut its benchmark lending rate by 25 basis points in September, according to the CME FedWatch tool. The remaining odds are in favor of another pause.

"Challenges still exist ... including slowing monthly jobs gains, consumer spending trends that are below 2024 levels, and tariff policies that can restrict growth and add to inflation," D.A. Davidson said in a client note. "Investors should remain balanced in the current environment, keep equity exposure diversified across sectors, prioritize high-quality companies with strong balance sheets, and consider rebalancing position weights to align with long-term investment goals."

New home sales in the US fell last month even as median prices reached the lowest level since November, government data showed Monday.

"New home sales were little changed in July, but the pace of sales was stronger than expected due to upward revisions to sales for June," Oxford Economics said. "Price cuts and other builder incentives are keeping a floor under new home sales."

The Texas manufacturing sector swung back into the contraction territory in August, even as new orders turned positive for the first time since January, data from the Federal Reserve Bank of Dallas showed.

West Texas Intermediate crude oil was up 1.7% at $64.73 a barrel in Monday late-afternoon trade.

"Oil rose on fears of Russian supply disruptions due to sanctions and Ukrainian attacks," D.A. Davidson said in a separate client note.

Gold was down 0.3% at $3,409.90 per troy ounce, while silver fell 1.3% to $38.53 per ounce.